SHENZHEN, China, Nov. 20 /Xinhua-PRNewswire/ -- Diguang International Development Co., Ltd. (OTC Bulletin Board: DGNG) ("Diguang"), an emerging, China-based leader in the manufacture of CCFL and LED backlights for the LCD display industry, today announced that it has entered into a contract with Samsung SDI Co., Ltd.
(Logo: http://www.prnasia.com/sa/200708301921-min.JPG )
Diguang’s Mobile Phone Strategic Business Unit is expecting to deliver to Samsung estimated monthly shipments of 500,000 mobile phone backlight units per model beginning in early to mid-2008, with expected shipments in 2008 under the contract to total a minimum of 10 million units. The contract may be renewed upon the agreement of both companies.
“Today’s announcement is a major milestone for Diguang in further increasing our international presence,” said Song Yi, President and Chief Executive Officer of Diguang International. “The Samsung SDI contract calls for the highest in technical and quality control standards, and meeting its challenges will position us with stronger competitive advantages than ever before.”
“We plan to use the operations devoted to this contract as reference sites for other SBUs within the Company,” Mr. Song continued. “By emulating successful practices, each SBU will account for itself under our newly announced structure. We are excited to be moving ahead with an expanded product line and innovations at the operational level, supporting the expansion of our international distribution channel.”
About Diguang International Development Co., Ltd.
Diguang, through its subsidiaries, specializes in the research, development, production, sale and distribution of backlights and backlight technologies. A backlight is the typical light source of a liquid crystal display (LCD). The Company is focused on providing LED and CCFL backlights for international producers of televisions, monitors, cellular phones, digital cameras, DVDs and other home appliances. Diguang currently develops an average of approximately 50 new products per month. Diguang is a Nevada corporation with its manufacturing subsidiary located in Shenzhen, PRC, and its sales and marketing subsidiary located in the British Virgin Islands.
Safe Harbor Statements
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Diguang’s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: the course of the Company’s relationships with customers, business conditions in China, weather and natural disasters, changing interpretations of generally accepted accounting principles; outcomes of government reviews; inquiries and investigations and related litigation; continued compliance with government regulations; legislation or regulatory environments, requirements or changes adversely affecting the businesses in which Diguang is engaged; fluctuations in customer demand; management of rapid growth; intensity of competition from other providers of backlights; timing approval and market acceptance of new product introductions; general economic conditions; geopolitical events and regulatory changes, as well as other relevant risks, including but not limited to risks outlined in the Company’s periodic filings with the U.S. Securities and Exchange Commission. Diguang does not assume any obligation to update the information contained in this press release.
For more information, please contact:
Company Contact:
T.C. Shen, Assistant to the President
Diguang International Development Co., Ltd.
Tel: +1-626-593-5486
Investor Relations Contact:
Sean Collins, Senior Partner
CCG Elite
Tel: +1-310-477-9800 x202
